The city of Oakland is selling its share of the Oakland Coliseum to a local Black development group for at least $105 million
The city of Oakland is selling its share of the Coliseum — home to the departing Oakland Athletics — to a local Black development group for at least $105 million, Mayor Sheng Thao announced Wednesday. The sale is not surprising after the A's announced last month that the Major League Baseball team will temporarily relocate to West Sacramento until its ballpark is built in its new home of Las Vegas. Fans are trying to enjoy the team's final year in the city of 400,000.
The money will help fill shortfalls in the city's budget, but city officials also say the sale to the African American Sports & Entertainment Group paves the way for a proposed sports and entertainment destination site, thousands of new affordable housing units and community benefits for historically neglected East Oakland. 'This agreement puts us on a path towards a more equitable and resilient Oakland,” Thao said in a news release.
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